KVH Industries, Inc. (NASDAQ:KVHI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, October 18th. The brokerage presently has a $14.00 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 20.17% from the stock’s previous close.
According to Zacks, “KVH Europe A/S is a wholly owned subsidiary of USA-based KVH Industries, Inc. KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than one lakhs mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. KVH Europe is the preferred supplier of marine satellite TV systems to leading powerboat builders like Sunseeker, Princess, Fairline, Rodriquez, Azimut, and Astondoa. KVH’s mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. “
Shares of KVH Industries (KVHI) opened at 11.65 on Wednesday. The company’s 50-day moving average price is $11.80 and its 200 day moving average price is $10.25. KVH Industries has a 1-year low of $7.50 and a 1-year high of $12.75. The firm’s market cap is $199.08 million.
KVH Industries (NASDAQ:KVHI) last announced its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.20. KVH Industries had a positive return on equity of 1.85% and a negative net margin of 6.35%. The firm had revenue of $40.50 million during the quarter, compared to analyst estimates of $40.55 million. During the same quarter in the prior year, the company earned $0.08 EPS. The business’s revenue was down 12.0% compared to the same quarter last year. On average, analysts predict that KVH Industries will post $0.12 EPS for the current year.
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Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of KVH Industries by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 124,423 shares of the communications equipment provider’s stock worth $1,046,000 after acquiring an additional 774 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of KVH Industries by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,143,838 shares of the communications equipment provider’s stock worth $9,608,000 after acquiring an additional 84,672 shares in the last quarter. Systematic Financial Management LP raised its position in shares of KVH Industries by 3.7% in the 2nd quarter. Systematic Financial Management LP now owns 1,492,591 shares of the communications equipment provider’s stock worth $14,180,000 after acquiring an additional 53,354 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of KVH Industries by 26.6% in the 1st quarter. Russell Investments Group Ltd. now owns 13,311 shares of the communications equipment provider’s stock worth $112,000 after acquiring an additional 2,800 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of KVH Industries by 20.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,600 shares of the communications equipment provider’s stock worth $182,000 after acquiring an additional 3,600 shares in the last quarter. 61.30% of the stock is owned by hedge funds and other institutional investors.
About KVH Industries
KVH Industries, Inc is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets.
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